Wood River times. [volume] (Hailey, Idaho) 1882-1915, 1887-07-28
EASTERN vs.. WESTERN CAPITAL.
fSTS.

hASXEhN VS. WESTERN CAPITAL
lists.
The bonding Of the Camas No.
mine and mill 10 a syndicate Of New
York and Paris capitalists has re
newed the discussion as to the relativ,
desirability Of Eastern and Western
men in mining regions. There is nj
doubt but that of the two classes
Western men are the most desirable
The latter are more energetic, more
enterprising, more experienced, and
more liberal. When Western CAPT
talists take hold of mining property
they at once provide for ample work
ing capital. If one million dollar.
does not suffice, they invest as much
more as is necessary to insure success
On the other hand, Eastern or foreign
capitalists provide q certain amount for
working capital, and when that is
expended they close down the works.
Hence the many deserted mining
camps to be seen Throughout the Pa
ciGc Coast States dtid Territories.
In the case of tho Camas No. 2,
The tuai of $250, 900 is to be expended
In doing development work and to
secure milling facilities. This amount
will pay for considerable development
work and for, say, a 5o-stamp mill,
and undoubtedly put the property on
q good paying basis. But suppose
an unforeseen disastet--such, for in
stance, As that which occurred in the
Con: Virginia and California, several
years ago, when d fire broke out in
the slopes that shut in some 100000.
coo worth of ore until now? Or such
= one as visited the Savage, Hale &
Norcross and Chollar- Potosi, when an
underground river burst into the
lower levels which necessitated the
construction of pump costing
100000 and the expenditure OF
fully as much moro to recover the
lost ground =? How far would a quar-.
ter,million dollars 60 in such case?
Uudes such circumstances Western
stockholders would simply "grin and
bear it." That is, they would pay up
assessments that would be ample for
oil purposes, and eventually recover
their entifs outlay and much more
besides. But what would Eastern
stockholders dor Judging from ex.
perienoe, they would simply order the
closing down Of the works, and that
would be the last of that property.
Let us not be Misunderstood. The
people Of the frontier gladly welcome
financial aid from whatever quarter it
comes, and protect it all the more
fully because its owners are absent
and cannot look after it. But expe.
rience has proved that Westerners are
more persevering-better "stayers'-
In mining matters, than any class OF
As to the particular investment
which is occupying public attention
here, just now, it seems to be safe
enough. That is to cay, a quarter
million dollars should put the prop.
erty UPON a muni6ceuhy remunera-
tive basis. 1t should, after a year or
two, it the mine continues produo-
tiva; enable the investors to get their
original investment back every year,
even with the Dutchman's tone per
cent" added. But, as in all enter
prises, there is bare possibility that
it may not; at the start, at least.
And it it does not, we fear the invest.
oss may become discouraged and dis.
continue work when, by the expendi.
ture of q small additional amount,
they would secure ample returns for
their outlay.
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